EIA: Weekly Ethanol Stocks Higher
NEW YORK (DTN) -- Ethanol inventories in the United States increased for the second straight week ended Nov. 7 to a three-week high as production climbed while blending demand remained steady, the Energy Information Administration reported on Thursday, Nov. 13.
Total ethanol stocks surged 536,000 barrels (bbl) to 17.705 million bbl during the first week of November, climbing 2.6 million bbl, or 18.8%, above the level seen a year earlier.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
The stock builds were reported in PADD 2 Midwest, PADD 3 Gulf Coast and PADD 5 West Coast, while flat in the PADD 4 Rocky Mountain region and PADD 1 East Coast.
The Midwest saw the biggest jump, rising 300,000 bbl to 5.8 million bbl, the highest supply rate for the region since the week-ended Sept. 12, the data showed, as logistical woes hampered shipments from the Midwest producer region.
Plant production jumped 17,000 barrels per day (bpd), or 3.1%, last week to 946,000 bpd while up 2.0% year-over-year, with four-week average output up 2.0% at 927,000 bpd. The increase in production was predicted by trade sources.
Blender inputs, a proxy for ethanol demand, held steady at 860,000 bpd while down 1.6% year-over-year, although four-week average demand edged up 0.7%.
(BM/AG)
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